The pair had a quiet start to the week, drifting lower from the $0.9400 mark in early trading (and a $0.9403 session high) to break the Friday lows and touch a $0.9387 bottom. A rebound to just below the figure ensued as sellers lacked follow-through with no domestic or Asian data to focus upon. Heading into Europe, however, the AUD again looks slightly soft and now sits at $0.9390, down 6bps on the day. Sellers are expected on a rally to $0.9425 then $0.9440, with bids below at the day’s low and below that at $0.9350 to $0.9360.
